Adam Wyden’s ADW Capital, which owns a 2.5% stake in Driven Brands (DRVN), is pushing the company to explore a sale or break up, AnnaMaria Andriotis of Wall Street Journal reports, citing a copy of a letter ADW sent to Driven. ADW also accuses Driven’s majority owner, Roark Capital, of mismanaging the business, the Journal notes. ADW called for Driven to immediately launch a strategic review process in the letter, which was also sent to Roark, according to the paper. Shares of Driven Brands closed up 3% to $12.76 following the report.
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